[Malaysia] FPSO Kikeh

[escveritas]

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MDFT SECURES CONTRACT EXTENSION FOR FPSO KIKEH

MISC Berhad (MISC) announced that the Malaysian Deepwater Floating Terminal (Kikeh) Limited (MDFT), a joint venture company between MISC and SBM Holdings Inc. S.A. (SBM), had recently entered into an agreement with PTTEP Sabah Oil Limited (PTTEP) to extend the FPSO Kikeh Charter Contract for six years beginning January 2022 until January 2028. FPSO Kikeh is located in Block K, offshore Sabah, Malaysia.

MISC and SBM owns 51% and 49% of the equity in MDFT, respectively. Built in 2007, FPSO Kikeh is the first and largest deepwater FPSO in Malaysia and Asia as well. The FPSO can produce 120,000 barrels of oil per day and has a storage capacity of two million oil barrels.

[escveritas]

SBM Offshore signs Share Purchase Agreements with MISC Berhad

6 SEptember 2024

SBM Offshore announced that it has signed two Share Purchase Agreements with its partner MISC Berhad for:

• the total acquisition of MISC Berhad’s entire effective equity interest in the lease and operating entities related to the FPSO Espirito Santo in Brazil; and

• the full divestment to MISC Berhad of SBM Offshore’s effective equity interest in the lease and operating entities of the FPSO Kikeh in Malaysia.

This transaction furthers SBM Offshore’s efforts to maintain focus and excellence in its operating portfolio. Agreements remain subject to several conditions precedent and approval by various competent authorities.